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Elite Pharmaceuticals, Inc. develops oral sustained and controlled release products. Elite's strategy includes assisting partner companies in the life cycle management of products, improving off-patent drug products, and developing generic versions of controlled release drug products with high barriers to entry. With four ANDA products partnered with Tagi Pharma, Elite is making strides in the pharmaceutical industry. Elite also manufactures Lodrane D® and receives royalties for this allergy product partnered with ECR Pharmaceuticals, a wholly owned subsidiary of Hi-Tech Pharmacal. Their lead pipeline products, Eli-216 and Eli-154, are novel sustained-release oral formulations of opioids for chronic pain treatment.
Elite Pharmaceuticals, Inc. (OTCBB:ELTP) has filed an Abbreviated New Drug Application (ANDA) with the US FDA for a generic drug in the antimetabolites class, which had reported annual sales of $42 million in the generic market for the year ending December 2022. This move reflects Elite's ongoing commitment to developing niche generic products. Elite Pharmaceuticals specializes in oral, controlled-release drug products and operates a cGMP and DEA registered facility in Northvale, NJ. The company previously licensed several generic products to partners such as Prasco, LLC and TAGI Pharma. Forward-looking statements in the release caution investors about risks and uncertainties regarding future performance and FDA approvals.
Elite Pharmaceuticals, Inc. (OTCQB:ELTP) reported financial results for the third quarter of fiscal year 2023, ending December 31, 2022. The company achieved consolidated revenues of $9.3 million, up 3% year-over-year, primarily driven by sales of generic Adderall products. Operating profits increased to $2.0 million, while net income rose to $2.96 million. For the nine-month period, revenues totaled $25.5 million, reflecting a 4% increase, but operating profits decreased to $4.1 million. A conference call is scheduled for February 15, 2023 to discuss these results and future updates.
Elite Pharmaceuticals, Inc. (OTCQB:ELTP) announced that it will release its third quarter financial results for the fiscal year 2023 on February 14, 2023. Management will host a live conference call on February 15, 2023, at 11:30 AM EST to discuss financial and operational outcomes, along with a general business update. Stockholders are encouraged to submit questions before the call. Elite Pharmaceuticals focuses on developing niche generic products and operates a cGMP and DEA registered facility for research and manufacturing in Northvale, NJ. For additional information, visit www.elitepharma.com.
Elite Pharmaceuticals (OTCQB:ELTP) announced positive results from pivotal fasted bioequivalence studies for a generic antimetabolite drug. IQVIA reported annual sales of $42 million for the generic market related to this product as of December 2022. These open-label studies demonstrated that the generic is bioequivalent to its branded counterpart, paving the way for Elite to compile data for an Abbreviated New Drug Application with the FDA.
Elite specializes in niche generic products and operates a registered facility in Northvale, NJ. For more details, visit www.elitepharma.com.
Elite Pharmaceuticals has filed an Abbreviated New Drug Application (ANDA) with the FDA for an undisclosed extended-release generic drug in the dopamine agonists class. This medication had US sales of about $12 million for the year ending August 31, 2022, according to IQVIA. The company develops niche generic products and operates a cGMP facility in Northvale, NJ. While the filing is a strategic move, it involves inherent risks and uncertainties that could impact future performance.
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